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the act of stealing Halloween candy from children while they are trick-or-treating.

Origin: SNL Weekend update Oct. 15, 2011. Rap star Drake and SNL member Jay Pharoah pose as "Teens Dressed as Werewolves" and do a rap song about 'bag jacking'
Me and my friends tried to go bag jacking this Halloween, but all of the kids went out with their parents.
by Yuehan85 October 16, 2011
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2
Reference to jerking off in a very forceful manner, such that the testicles are bounced, or "jacked"
We didn't get much work done, but we did a lot of bagjacking.
by Chuck Woolery June 28, 2003
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3
the term that has replaced "purse-snatching" for the new millenium
"so yo, dis crackhead got blacklisted from da pawn shop, had ta start bagjacking fo' his fix, my nigga!"
by Mofo Jojo September 27, 2003
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